REC raised $400 million through dollar bonds

New Delhi: State-run Rural Electrification Corp (REC) said it has raised $400 million through a dollar bond issue.

The issue concluded in London on Monday. The bond is priced at 115 basis points over three years US Treasury and is for refinancing the existing external commercial borrowings, first of its kind by any Indian PSU, an official statement said.

This is the second international bond transaction by REC this year. The company had raised green bonds of $450 million in July this year.